Intertape Polymer Group Inc. (TSE:ITP) Receives C$40.88 Average Price Target from Brokerages

Intertape Polymer Group Inc. (TSE:ITPGet Rating) has received an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$40.88.

Several research analysts recently commented on ITP shares. Royal Bank of Canada lowered shares of Intertape Polymer Group from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$37.00 to C$40.50 in a report on Monday, March 14th. Scotiabank downgraded shares of Intertape Polymer Group from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$38.00 to C$40.50 in a research report on Wednesday, March 9th. CIBC downgraded shares of Intertape Polymer Group from an “outperform” rating to a “tender” rating and increased their price objective for the company from C$36.00 to C$40.50 in a research report on Wednesday, March 9th. TD Securities downgraded shares of Intertape Polymer Group from a “buy” rating to a “hold” rating and increased their price objective for the company from C$37.00 to C$40.50 in a research report on Thursday, March 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Intertape Polymer Group in a research report on Thursday, March 10th.

Shares of ITP stock opened at C$38.89 on Friday. The firm has a market cap of C$2.31 billion and a P/E ratio of 26.88. Intertape Polymer Group has a 1-year low of C$22.25 and a 1-year high of C$39.93. The company has a debt-to-equity ratio of 158.10, a current ratio of 1.55 and a quick ratio of 0.71. The firm’s 50-day simple moving average is C$39.56 and its 200-day simple moving average is C$30.59.

Intertape Polymer Group (TSE:ITPGet Rating) last posted its quarterly earnings results on Friday, March 11th. The company reported C$0.54 EPS for the quarter, missing the consensus estimate of C$0.55 by C($0.01). The company had revenue of C$518.63 million for the quarter, compared to analysts’ expectations of C$495.16 million. Analysts expect that Intertape Polymer Group will post 2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.219 per share. The ex-dividend date is Tuesday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Intertape Polymer Group’s previous quarterly dividend of $0.22. Intertape Polymer Group’s dividend payout ratio (DPR) is presently 46.13%.

Intertape Polymer Group Company Profile (Get Rating)

Intertape Polymer Group Inc provides packaging and protective solutions for the industrial markets in North America, Europe, and internationally. The company offers pressure-sensitive and water-activated tapes; packaging equipment; industrial and performance specialty tapes, such as masking, duct, electrical, foil, process indicator, sheathing, sports, and reinforced filament tapes; protective packaging solutions, including inflatable systems, mailer products, bubble cushioning, paper void fills, thermal solutions, and protective foam roll stocks; stencil products; shrink films; stretch and lumber wraps; structure and geomembrane fabrics; non-manufactured flexible intermediate bulk containers; specialized polyolefin films; and engineered coated products for industrial and retail use.

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Analyst Recommendations for Intertape Polymer Group (TSE:ITP)

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